07th June 2016 Market Outlook and Correlation Directional Bias

07th June 2016 Market Outlook and Correlation Directional Bias

Sign of Recession Janet yellen is ignoring?

Good Mornings Members

US Dollar: Up at 93.925. The US Dollar is up 70 ticks and trading at 93.925.
Financials: The Sept 30 year bond is down 8 ticks and trading at 165.27.
Indices: The June S&P 500 emini ES contract is up 23 ticks and trading at 2114.00.
Gold: The August gold contract is trading down at 1245.10. Gold is 23 ticks lower than its close.
Energies: July Crude is up at 49.82.
Markets at present not to be seems correlated.
when we don’t have a correlated market, it means something is wrong.
All of Asia traded higher. As of this writing all of Europe is trading higher.

Economics News Release -Need to be aware of
– Revised Nonfarm Productivity q/q is out at 10 AM EST. This is not major.

– Revised Unit Labor Costs q/q is out at 8:30 PM EST. This is not major.

– IBD/TIPP Economic Optimism is out at 10 AM EST. This is major.

– Consumer Credit m/m is out at 3 PM EST. This is major.

Directional Bias

The Dow gained 113 points and the other indices gained ground as well. Today we aren’t dealing with a correlated market however our bias is to the upside.

Contact Info

Hypothetical Performance Disclaimer

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN;

IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT.
IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK OF ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS.

THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL WHICH CAN ADVERSELY AFFECT TRADING RESULTS.